Re:Americans, it turns out, would rather visit a store than ...
by barrkel on Wednesday May 27, 2020 @05:13PM
(#23330061)
What you're missing out on is information asymmetry.
If you're insuring against a risk, and you have more information than the insurer, you may be profiting and the insurer may be running a loss.
If you're picking out your own groceries, you can select the pristine fruit and vegetables, and the grocery store takes the loss. With a disinterested picker, you take a portion of the loss.
Re:Americans, it turns out, would rather visit a store than ...
by cortesoft on Wednesday May 27, 2020 @07:47PM
(#23331634)
You take a disproportionate portion of the loss, because in person shoppers are taking the pristine fruit, leaving more non-pristine fruit for the pickers.
If you're insuring against a risk, and you have more information than the insurer, you may be profiting and the insurer may be running a loss.
If you're picking out your own groceries, you can select the pristine fruit and vegetables, and the grocery store takes the loss. With a disinterested picker, you take a portion of the loss.